Medical Suites Singapore or Clinics for Sale
Located at Prime location of Orchard
Integrated Development with offices, retail shops, F&B outlets and medical suites
Somerset MRT Station is just across the road
Many tenanted units with Immediate rental income.
Flexible layout choices
Excellent parking facilities
No ABSD, No SSD, Foreigners eligible
Limited strata commercial units for sale at Orchard area
PSF from S$4,3XX (for Medical Suites)
742 sqft (69 sqm) to 2,066 sqft (192 sqm)
In between Somerset and Exeter Road
Global Medical Tourism
The worldwide clinical tourism marketplace is predicted to increase from $32.02 billion in 2021 to $35.77 billion in 2022 with a compound annual boom rate (CAGR) of 11.7%. The boom is caused primarily by organizations resuming their operations and adapting to the brand new regular even as recovery undergo COVID-19 impact. Consequently, it brought about restrictive containment measures concerning social distancing, working from home, and the closure of several commercial activities. industrial sports that led to operational challenges. Experts forecast the marketplace is to reach $5.43
billion in 2026 at a CAGR of 11.1%.
The medical tourism marketplace also includes sales generated via diagnosing and treating the patients who travels internationally to attain clinical treatment, wellness and alternative treatments.
Higher medical costs in developed countries lead to the growth of the medical tourism market as developing countries are able to provide cheaper treatment.
Singapore Holds Top Rank in Health Efficiency Indices
A. Bloomberg Health-Efficiency Index
Singapore is one of the Asian economies, topping the list of the most efficient healthcare systems as the pandemic sweeps the world.
The Bloomberg Health Efficiency Index, first conducted in 2013, tracks life expectancy and health expenditures to determine the best performing health systems. The 2020 results include the impact of Covid-19 on mortality and GDP for the world's 57 largest economies.
Singapore's healthcare industry is known as one of the best in the world, thanks to a combination of factors: strong regulatory governance, contributions from medical savings accounts and a cost-sharing system in both the public and private sectors.
The government's main strategy is to transform the health sector through IT systems, robust clinical research, improved long-term care and a shift towards complex care.
As Singapore's population ages, healthcare will account for most of the increase in public social spending by 2030.
26.6 percent of the country’s population will be over the age of 65 in 2035.
Health spending in the country grew three times from $3.7 billion in 2010 to $11.3 billion in 2019. If current health spending (excluding Covid-19 spending) continues to grow at a similar rate over the next decade, the government will spend about $27 billion, or about 3.5% of GDP (gross domestic product) in 2030.
A Safer Investment
Medical suites can fall under either commercial or healthcare zoning and these segments of property marketing are not affected by the cooling measures according to Urban Redevelopment Authority (URA). Therefore, it has been attracting developers to take an interest on this industry. The demand for medical space is not so sensitive to economic trends and business sentiment.
Strata Medical Suites For Sale
There is a limited medical suites available for sale to investors. There is this opportunity at 111 Somerset. Contact us for more details.
B. Medical Tourism Index
The 2020-2021 Medical Tourism Index (MTI) released by The International Healthcare Research Center (IHRC) in its third edition of its flagship survey tool, ranked the top five destinations: Canada, Singapore, Japan, Spain, UK,
The MTI rated US. perceptions 46 international health care destinations, with information on how consumers perceive
in three dimensions, including medical tourism, destination attractiveness and quality of care. It is fast becoming the ultimate planning tool for industry players looking to invest, measure and grow their share of the medical travel market.
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